RBS has launched FI GlobalAccount, providing a platform to deliver cross-currency payments in 132 currencies for FIs and their clients.
The combination of web-based FX initiation and SWIFT-based payment connectivity allows clients to ingrate the product with their existing infrastructure. The solution allows FIs to hold accounts within or outside the RBS network. Key benefits include: simplify cross-currency payment processes and expand global reach; know the FX rate upfront and mitigate FX settlement and currency devaluation risks; reduce network costs and increase FX revenue.
Wilco Dado, head of payments, Global Transaction Services, RBS, says: "We recognised that financial institutions needed to simplify the complexity and reduce costs in their own operations and concentrate their liquidity into their core currencies, whilst serving their clients growing global needs. FI GlobalAccount is entirely bespoke to FIs and delivered in a simple, flexible and cost-effective way".
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